Pipeline and Process Services Market to Reach USD 5.53 Billion by 2032 | CAGR 4.91% Growth Analysis
Pipeline and Process Services Market
Key Companies covered in Pipeline and Process Services Market are EnerMech, Chenergy Services Limited, CR3, and Alphaden Energy & Oilfield Limited
List of Key Players Profiled in the Pipeline and Process Services Market Report
• T.D. Williamson, Inc (U.S.)
• STATS Group (United Kingdom)
• Oceaneering International, Inc (U.S.)
• TEAM, Inc. (U.S.)
• Baker Hughes (U.S.)
• BGS ES (U.S.)
• Hydratight Limited (U.K.)
• Ideh Pouyan Energy Co (Iran)
• IKM Group (Norway)
• Dexon Technology PLC (Thailand)
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Segmentation:
Pre-Commissioning Segment to Lead Due to Increasing Pipeline Installations
By service, the market is segmented into pre-commissioning, commissioning, and decommissioning. The pre-commissioning segment held the largest share in 2023 owing to increasing pipeline installations and safety testing prior to startup operations.
Gas Pipelines to Dominate Owing to High Global Transmission Demand
By asset type, the market is divided into gas and liquid pipelines. Gas pipelines dominated the market due to rising global demand for natural gas and long-distance transmission infrastructure expansion.
Onshore Segment Leads Due to Easier Access and Maintenance Activities
By location, the market is segmented into onshore and offshore. Onshore pipelines led the market due to easier accessibility, inspection, and maintenance compared to offshore assets.
Regional Insights:
North America to Dominate Owing to Aging Infrastructure and High E&P Activity
North America led the global pipeline and process services market in 2023, driven by aging infrastructure and high exploration & production activity. The region's vast network of pipelines requires frequent servicing and safety checks.
Asia Pacific to Register Fastest Growth Due to New Pipeline Projects
Asia Pacific is expected to witness the fastest growth rate during the forecast period. Countries like China and India are rapidly expanding their pipeline networks to meet the rising demand for oil and gas.
Europe to Show Steady Growth with Focus on Pipeline Integrity and Hydrogen Integration
Europe is anticipated to grow steadily due to ongoing efforts to enhance pipeline integrity, reduce emissions, and integrate hydrogen into existing gas networks.
Report Scope & Segmentation: Pipeline and Process Services Market:
Market Size Value in 2024: USD 3.78 Billion
Market Size Value in 2032: USD 5.53 Billion
Growth Rate: CAGR of 4.91% (2024-2032)
Study Period: 2019-2032
Base Year: 2024
Historical Data: 2019-2023
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Report Coverage
The report offers an in-depth analysis of key market segments and emerging trends. It discusses growth drivers, challenges, regional developments, and competitive landscape. The impact of global supply chain disruptions and energy transition policies is also covered in detail.
Drivers and Restraints
Increasing Pipeline Projects and Safety Regulations to Fuel Market Growth
Global expansion of oil & gas infrastructure and stringent safety regulations are key growth drivers for pipeline and process services. Service providers play a crucial role in leak detection, cleaning, and testing to prevent failures and ensure system reliability.
However, fluctuating crude oil prices and regulatory delays in project approvals are expected to hinder market growth.
Regional Insights
North America to Dominate Owing to Aging Infrastructure and High E&P Activity
North America led the global pipeline and process services market in 2023, driven by aging infrastructure and high exploration & production activity.
The region's vast network of pipelines requires frequent servicing and safety checks.
Asia Pacific to Register Fastest Growth Due to New Pipeline Projects
Asia Pacific is expected to witness the fastest growth rate during the forecast period. Countries like China and India are rapidly expanding their pipeline networks to meet the rising demand for oil and gas.
Europe to Show Steady Growth with Focus on Pipeline Integrity and Hydrogen Integration
Europe is anticipated to grow steadily due to ongoing efforts to enhance pipeline integrity, reduce emissions, and integrate hydrogen into existing gas networks.
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Key Industry Development
November 2022 - Halliburton launched NeoCem E+ and EnviraCem cement barrier systems to extend their portfolio of high-performance reduced Portland cement systems, which comprises 50% or better reduction of mass cement. Halliburton established a new compact cement system to leverage the synergies among the chemical and physical possessions of specialized materials combined with cement used in zonal isolation.
November 2022 - Halliburton unveiled the BrightStar resistivity service, a novel resolution that discloses the trail ahead of the drill bit to empower upbeat drilling decisions. The BrightStar service includes visualization technology, data, and calculations to diminish operational risks in unidentified environments and deliver higher confidence to evade unwanted formation exits.
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Ashwin Arora
Fortune Business Insights™ Pvt. Ltd.
+1 833-909-2966
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